Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes. Once you build enough equity and improve your credit, refinancing into conventional removes FHA mortgage insurance permanently.

Question 2

Which loan has a higher limit in Riverside County?

Accepted Answer

Both conventional conforming and FHA limits apply to Riverside County. Ask us for the current figures — they update annually.

Question 3

Does FHA allow lower credit scores than conventional?

Accepted Answer

Yes. FHA approves down to 580 with 3.5% down. Most conventional lenders want 620 minimum, with better rates above 700.

Question 4

Is the FHA upfront fee paid at closing?

Accepted Answer

Usually it's rolled into the loan balance. It adds to what you owe but does not require cash out of pocket at closing.

Question 5

Which loan is better for La Quinta investment properties?

Accepted Answer

Neither — both require owner occupancy. DSCR or conventional investment loans cover rental properties in La Quinta.

Conventional vs FHA Loans in La Quinta, CA